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U.S. Vice President Kamala Harris has spoken publicly about crypto for the first time, pledging support for the industry while stressing consumer protections during her presidential campaign.
During a Wall Street fundraiser on Sunday (Sep, 22), Harris pledged to promote investment in artificial intelligence and digital assets.
Cited by Bloomberg, Harris told a fundraiser in Manhattan: “We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
She added: “We will create a safe business environment with consistent and transparent rules of the road.”
The policy is part of what she has billed as an agenda for an “opportunity economy,” in which she hopes to create a “safe business environment with consistent and transparent rules of the road.”
At the beginning of the month, crypto industry leaders were planning a fundraiser to raise $100,000 for Harris’ campaign with hopes of influencing her stance on cryptocurrency, despite her not directly accepting crypto donations.
Kamala Harris’ crypto ambitions
Harris’ comments mark the first time she has addressed cryptocurrencies as the Democratic presidential nominee, while her Republican opponent, Donald Trump, has also sought backing from the crypto industry.
The industry has been speculating whether Harris would adopt a different stance on digital assets compared to President Joe Biden, who has been perceived by some as unfriendly to the sector.
Alexander Grieve, vice president of government affairs at venture firm Paradigm, described Harris’ comments as “encouraging” in a post on X. He added that, regardless of the outcome in November, “this should be the last anti-crypto administration.”
This is encouraging. Regardless of outcome in November, this should be the last anti-crypto administration.
The Trump approach will be different than the Harris approach, and staffing plays a big role in both cases. But the direction of travel for crypto in the US is clear 📈 https://t.co/5FSajDTb1Q
— Alexander Grieve (@AlexanderGrieve) September 22, 2024
In August, Harris’ senior campaign adviser, Brian Nelson, suggested that she would back crypto policies if she wins the presidential election in November. However, Harris stressed that the industry needs “rules of the road,” pointing to the collapse of some companies as a reason for stronger regulation.
If we’re insisting on reading tea leaves, here are some based on fact, not speculation.
This language (innovative technologies, transparent rules of the road) is directly on point with discussions had about crypto.
Recall that this campaign has existed for weeks, not months.… pic.twitter.com/M2IzRT32kV
— Sheila Warren (@sheila_warren) August 17, 2024
Sheila Warren, the president of the Crypto Council for Innovation, a global alliance working to advance innovation and inclusive regulation, wrote on X that her statement was “directly on point with discussions had about crypto.”
Last week, SkyBridge Capital founder and former White House Communications Director in the Trump administration, Anthony Scaramucci revealed he and a group of crypto advocates are working with Harris to develop her campaign’s policies on digital assets ahead of the November elections.
.@KamalaHarris is capable and has a great team. I like where we’re going and look forward to seeing her policies on crypto. https://t.co/b2GSsvK9Pc
— Anthony Scaramucci (@Scaramucci) July 25, 2024
Speaking to a panel on September 19 at the annual TOKEN2049 event, one of the world’s largest crypto conferences, he said: “There’s a group of cryptocurrency advocates, bitcoin
advocates etc. that are working alongside her to distance the Democratic Party away from Elizabeth Warren and [Gary Gensler].”
The former White House communications director added: “I believe that we are making progress, and I think it’s going in the right direction.”
Featured image: Ideogram
